Cryptocurrency and Bitcoin

Q: I have invested in cryptocurrency (bitcoin) last year, what is the Islamic ruling regarding it. If it is not allowed what should I do with it. 

A: The ulama have not yet regarded this as a currency. If you are able to exchange it with the person you purchased it from and get back your money, then you should do so.

And Allah Ta'ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)